Results of Wednesday’s Best S&P Futures Turning Points: Shorting 4305.missed filling by 1 point. Buying 4266.00 filled in the Globex session last night running for 12.75 points and still open currently. 

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4228.50 stop 4223.25. Short 4305.75 stop 4311.25. 

The World Sentiment Index: (+100/-100) reverses from -29 to +21 in a world of mixed sentiment with low volatility. 

Catalysts: Jobless Claims @ 8:30. 

Quick Tip: Set/Forget

One of the nice features of trading the levels from this newsletter is the set/forget entry available on the reversals. 

Yesterday’s buy at 4266.00 didn’t trigger until 12:04 AM ET. Depending on your time zone you may have been sleeping. Placing the order beforehand brought you a welcome “Good Morning!” 

You have a choice of stops: leave the...

Results of Tuesday’s Best S&P Futures Turning Points: Shorting 4305.75 caught the high of the session twice and ran for 12 and 14.75 points. Feel better about your win by donating a slice to my preferred charity, the Alzheimer’s Association. Click here.

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4266.00 stop 4260.75. Short 4305.75 stop 4311.25. 

The World Sentiment Index: (+100/-100) dips from -21 to -29 in a world of Bearish leaning mixed sentiment with low volatility. 

Catalysts: International Trade @ 8:30 Crude Oil Inventories @ 10:30. 

Quick Tip: Filtering

The successful turning point from yesterday did not come from a chart pattern. This level was derived from the highest volume on the price axis the prior day. They’re “hidden” on a time-based chart. The theory is that the price was fair, many orders were...

Results of Moday’s Best S&P Futures Turning Points: Shorting 4305.75 caught the high of the session and ran for 32.75 points before closing the day +25.75.  Feel better about this gift by donating a slice to my preferred charity, the Alzheimer’s Association. Click here.

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4266.00 stop 4260.75. Short 4289.75 stop 4294.25. 

The World Sentiment Index: (+100/-100) drops from +29 to -21 in a world of Bearish leaning mixed sentiment with low volatility. 

Catalysts: Nothing obvious. 

Quick Tip: Adjust Expectations

It’s important to be in harmony with current market conditions. While being disciplined to follow your rules, ask yourself “Do I have different rules for volatile and quiet markets?” 

Today’s Globex range is currently 11.25 points trading trendless inside...

Results of Friday’s Best S&P Futures Turning Points: Shorting 4271.75 ran for 22.50 points. Feel better about the win by donating a slice to my preferred charity, the Alzheimer’s Association. Click here.

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4266.00 stop 4260.75. Short 4305.75 stop 4311.25. 

The World Sentiment Index: (+100/-100) drops from +86 to +29 in a world of Bullish leaning mixed sentiment. 

Catalysts: ISM Services PMI & Factory Orders @ 10:00. Oil up on production cut. 

Quick Tip: Entry or Exit?

Friday’s suggested short was at a high-volume price level that was formed in August 2022. Don’t be reluctant to go back as far as you can to find a chart feature to trade from. 

Price was strongly marching higher, hopefully you had a long signal and enjoyed that run. Our team was long from our intraday trend...

Results of Thursday’s Best S&P Futures Turning Points: Shorting 4214.00 stopped out. Buying the breakout ran for 22 points. 

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4228.50 stop 4223.25. Short 4271.75 stop 4277.50. 

The World Sentiment Index: (+100/-100) JUMPS from +43 to +86 with all major world markets very Bullish.

Catalysts: Employment Report @ 8:30.  

Quick Tip: Breakouts

The suggested turning points in this newsletter are former high volume price levels. These represent fair value, otherwise price would trend. They’re used for both reversal and breakout trades. 

Looking at the chart above you’ll notice the breakout was documented, but not suggested in yesterday’s edition. Going forward you should pay attention to the breakouts when the reversals fail. 

In strong trending markets the...

Results of Wednesday’s Best S&P Futures Turning Points: Buying 4118.25 offered a 16.50-point runner. 

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4096.75 stop 4092.00. Short 4192.25 stop 4196.50. 

The World Sentiment Index: (+100/-100) jumps from -86 to -21 in a world of mixed sentiment and waning volatility. 

Catalysts: GDP & Jobless Claims @ 8:30. Pending Home Sales @ 10:00. Risk on for Tech 

Quick Tip: Fast Moves

Everyone loves a fast move in your chosen direction. Study enough price charts and you’ll see a recurring pattern: fast move up, base, fast move down. It happens in reverse as well. 

So, after enjoying the quick gain and determining your exit, start planning for the reversal. Sometimes the base is non-existent, like the pivot candle on the chart above. Other times it’s a trading range. Mark up...

Results of Tuesday’s Best S&P Futures Turning Points: Buying 4182.00 stopped out. 

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4118.25 stop 4115.25. Short 4192.25 stop 4196.50. 

The World Sentiment Index: (+100/-100) drops from -50 to -86 with all major world markets very Bearish. Contrarian Alert: Historically, price closed higher from the open 57% of the time.

Catalysts: Yellen speaks @ 10:05. Crude Oil Inventories @ 10:30. FOMC Meeting Minutes @ 14:00. Debt ceiling talks stall. Risk off worldwide. 

Quick Tip: Short Targets

The world is bearish today due to the impasse on debt ceiling talks. You’ll probably be leaning to the short side today. 

Successful traders look for asymmetrical trades. These are trades where the risk is small compared to the potential gains. 

One application for asymmetry is frequently overlooked....

Results of Thursday’s Best S&P Futures Turning Points: Shorting 4206.50 stopped out immediately. Same result as yesterday though. Make sure you take the breakout after the failed reversal. This one ran 14 points. 

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4182.00 stop 4178.75. Short 4271.75 stop 4277.50.  

The World Sentiment Index: (+100/-100) slumps from +50 to +14 with Asia struggling and the west modestly Bullish, Germany’s DAX near a record. 

Catalysts: Nothing on the economic calendar. Fed-speak @ 8:45 & 9:00. Powell speaks @ 11:00.

Quick Tip: Hindsight

Have you ever looked at your trade result and thought to yourself “If had a bigger stop it would have been a winner” or “If I don’t use a stop I’ll see more winners because this market just swings up and down.” 

What you’re experiencing is...

Results of Tuesday’s Best S&P Futures Turning Points: Choppy narrow price “in-action”, nothing triggered.  

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4118.25 stop 4115.25. Short 4154.50 stop 4157.75. 

The World Sentiment Index: (+100/-100) dips from +14 to -7 in a world of mixed sentiment and low volatility. 

Catalysts: Housing Starts @ 8:30. Crude Oil Inventories @ 10:30. Debt ceiling updates. 

Quick Tip: Slow Days

Yesterday was slow. So slow that even a multi-strategy approach like ours found it tough to get an entry. 

You’d expect credit spreads on the SPXW would be ideal candidates for the expected range-bound day. Rules of entry vary but for us we never triggered the Bear Call side of the Condor. 

Just keep in mind that you don’t have to trade. You’d like to, but you’re better off...

Results of Monday’s Best S&P Futures Turning Points: Neither level triggered and remain on the chart. 

Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets): 

Buy 4118.25 stop 4115.25. Short 4186.75 stop 4190.50. 

The World Sentiment Index: (+100/-100) PLUMMETS from +64 to +14 in a world of mixed sentiment and low volatility. 

Catalysts: Retail Sales @ 8:30. Industrial Production @ 9:15.  Business Inventories & Housing Market Index @ 10:00. Scattered Fed-Speak. Debt ceiling updates. 

Quick Tip: Disagree?

In Stephen Covey’s bestseller, “The 7 Habits of Highly Effective People”, the 6th habit is Synergize. The concept of synergy is real and born in nature. You’ll need to read the chapter (the whole book would be better) to get all the details and proof. Just assume it’s true for now. 

Think about this: If everyone you...